| (33) Local government unit--Any city or county.
(34) Local population--The population in the local
government unit or units on whose behalf a housing finance corporation
is created. If two local government units overlap, each having created
housing finance corporations with the power to issue bonds to provide
home mortgage financing, prior to the submission of either the application
for reservation or the application for carryforward by either housing
finance corporation, there shall be excluded from the population of
the larger local government unit that portion of the population of
any smaller local government unit having a population of 50,000 or
more which is within the larger local government unit, unless the
smaller local government unit assigns its authority to issue qualified
mortgage bonds, based upon its population, to the larger local government
unit. A resolution assigning authority to issue qualified mortgage
bonds must have been adopted within the 18 months preceding the date
of submission of the application to the board.
(35) Locally voted issue--An issue of bonds authorized
pursuant to a referendum approved by the voters of a political subdivision
of the State of Texas.
(36) Mortgage credit certificate--A certificate of
the nature described in the Code, §25.
(37) Population--As defined by §311.005(3), Government
Code.
(38) Prepayments--Reduction of the principal amount
of a loan that was originated from bond proceeds resulting in a corresponding
reduction of the principal amount of the bond proceeds.
(39) Private activity bond--A private activity bond
within the meaning given that term under the Code.
(40) Program year--A calendar year.
(41) Project--A project as defined by Government Code §1372.002,
described in the application for reservation or carryforward, proposed
to be financed, in whole or in part, by an issue of bonds. With respect
to qualified mortgage bonds or qualified student loan bonds, the board
shall consider the project or purpose to be the provision of financial
assistance to qualifying mortgagors or students within all or any
portion of the jurisdiction of the issuer. For purposes of this definition,
jurisdiction of the issuer is determined on the date the application
for reservation is delivered to the board.
(42) Qualified application--A completed application
for reservation or an application for carryforward.
(43) Qualified bond--A qualified bond within the meaning
given that term under the Code.
(44) Qualified mortgage bond--A qualified mortgage
bond within the meaning given that term under the Code, including
mortgage credit certificates.
(45) Qualified residential rental project issue--An
issue of bonds for a qualified residential rental project, as that
term is defined under the Code, §142(d).
(46) Qualified small issue bond--A bond within the
meaning given that term under the Code.
(47) Qualified student loan bond--A bond within the
meaning given that term under the Code, §144(b).
(48) Related person--Related person within the meaning
given that term under the Code.
(49) Reservation--A reservation of a portion of the
state ceiling for a specific bond issue.
(50) Reservation date--The earliest date on which a
qualified application for reservation is accepted for filing with
the board pursuant to the Act and a portion of the state ceiling is
or becomes available to the issuer.
(51) Rules--Any statement of general applicability
that implements, interprets, or prescribes law or policy, or describes
the board's procedures and practice.
(52) Significant expenditures--Expenditures greater
than the lesser of $1 million or 10% of the reasonably anticipated
cost of the project.
(53) Staff--The staff of the board.
(54) State--The State of Texas.
(55) State ceiling--The amount of the authority in
the state to issue tax exempt private activity bonds during the calendar
year, as determined under the Code.
(56) State-voted issue--An issue of bonds authorized
pursuant to a statewide referendum approved by the voters of the state.
(57) Tax-exempt enterprise zone facility bonds--An
issue of bonds for an enterprise zone facility, as that term is defined
under the Code, §1394.
(58) Unencumbered State Ceiling--Any state ceiling
that is not reserved or designated as carryforward and for which no
application for carryforward is pending on the last business day of
the year which may be assigned by the board, in the order received,
to a state issuer or to an issuer that was created to act on behalf
of this state at the request of the issuer.
(59) Unexpended proceeds--Proceeds remaining from a
prior issue of bonds, including, in the case of qualified mortgage
bonds, any unused portion of mortgage credit certificates.
(d) Amendment and suspension of sections. These sections
may be amended by the board at any time in accordance with the Administrative
Procedure Act, Government Code, Chapter 2001.
(e) Statements and opinions. Statements and opinions
expressed orally or in writing by the staff in response to inquiry
or otherwise, and not specifically identified and promulgated as sections,
shall not be considered regulatory standards of the board and shall
not be considered binding upon the executive director in consideration
with specific determinations undertaken by the board or the executive
director thereafter.
(f) Examination of records. Any party requesting the
examination of records pursuant to Chapter 552, Government Code, as
amended, shall indicate in writing the specific nature of the document
to be viewed.
|
| Source Note: The provisions of this §190.1 adopted to be effective January 3, 1992, 16 TexReg 7646; amended to be effective January 11, 1993, 18 TexReg 65; amended to be effective December 21, 1995, 20 TexReg 10389; amended to be effective October 8, 1997, 22 TexReg 9895; amended to be effective October 6, 1999, 24 TexReg 8566; amended to be effective February 27, 2002, 27 TexReg 1338; amended to be effective September 18, 2003, 28 TexReg 8136; amended to be effective April 10, 2008, 33 TexReg 2831; amended to be effective October 8, 2009, 34 TexReg 6860; amended to be effective December 2, 2019, 44 TexReg 7403; amended to be effective October13,2021,46 TexReg 6948; amended to be effective August 22, 2022, 47 TexReg 5000; amended to be effective October 11, 2023, 48 TexReg 5825 |
